Chevron

Company Description

Chevron Corporation is an energy multinational company involved in every aspect of the oil, natural gas, and geothermal energy industries in more than 180 countries. Chevron operates in hydrocarbon exploration and production, hydrocarbon refining, marketing and transport, chemicals manufacturing and sales, and power generation.

Detailed Description

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant. The Downstream segment engages in refining crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels; transporting crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. It is also involved in the cash management and debt financing activities; insurance operations; real estate activities; and technology businesses. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is based in San Ramon, California.

Wikipedia Introduction

Chevron Corporation is an American multinational energy corporation. One of the successor companies of Standard Oil, it is headquartered in San Ramon, California, and active in more than 180 countries. Chevron is engaged in every aspect of the oil and natural gas industries, including hydrocarbon exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation. It was also one of the Seven Sisters that dominated the global petroleum industry from the mid-1940s to the 1970s. Chevron is one of the largest companies in the world and the second largest oil company in the United States, only behind ExxonMobil. As of August 2021, Chevron ranked 27th in the Fortune 500 with a yearly revenue of $94.7 billion and market valuation of $190 billion. In the 2020 Forbes Global 2000, Chevron was ranked as the 61st-largest public company in the world. Chevron's downstream operations manufacture and sell products such as fuels, lubricants, additives, and petrochemicals. The company's most significant areas of operations are the west coast of North America, the U.S. Gulf Coast, Southeast Asia, South Korea and Australia. In 2018, the company produced an average of 791,000 barrels of net oil-equivalent per day in United States. Chevron has been subject to numerous controversies arising out of its activities, the most notable of which being related to its activities and inherited liabilities from its acquisition of Texaco in the Lago Agrio oil field, which include allegations of both Chevron and Texaco collectively dumping 18 billion tons of toxic waste and spilling 17 million gallons of petroleum. Chevron and Texaco's activities were the subject of a lawsuit Chevron lost to Ecuadorian residents defended in Ecuadorian court by Steven Donziger. Due to false accusations of Donziger bribing the Ecuadorian court and the subsequent disbarment and criminal contempt charges against Donziger, Chevron was accused by environmentalists and human rights groups of jailing Donziger and compelling the US government to deny Donziger due process of law.

Source: Wikipedia, retrieved on March 31, 2022, 8:43 p.m.

Product & Services

Petroleum, natural gas and other petrochemicals, See Chevron products

Key People

Michael Wirth (Chairman and CEO)

Financials

Revenue: US$162.47 billion (2021)

Operating income: US$21.64 billion (2021)

Net income: US$15.63 billion (2021)

Total assets: US$239.54 billion (2021)

Total equity: US$139.94 billion (2021)